I love meeting up with Caleb Parker and talking about outsized returns!
You see most people don’t realise that most outsized returns come from betting against conventional wisdom, and let’s be honest conventional wisdom is usually right.
But as entrepreneurs even given a 10 percent chance of a 100 times payoff, we believe we entrepreneurs should take that bet every time.
But be kind to yourself as the chances are you're still going to be wrong nine times out of ten . . .
As Caleb Parker is American I think he would be proud of me using a baseball ⚾️ analogy so here goes - if you swing for the fences, you're going to strike out a lot, but you're also going to hit some home runs.
The difference between baseball and business, however, is that baseball has a truncated outcome distribution.
Or said another way 😅
When you swing, no matter how well you connect with the ball, the most runs you can get is four.
Whereas in business, every once in a while, when you step up to the plate, and you can score 1,000 runs.
This long-tailed distribution of returns is why it's important to be BRAVE.
History shows that big winners swing the most, lose the most but when they win we only remember the home runs.
#founders #investors #entrepreneurs #pals #lessons
Borrow I Build I Believe I assist business owners frustrated with their cash flow, steering them away from costly financing mistakes and saving them thousands of dollars in interest through more effective solutions
6dAmen 🙏 ! The man upstairs 💥💥💥